Betfred and Bet365 Owners Rank as Second and Third Highest UK Taxpayers
The UK’s biggest taxpayers were revealed in the 2025 edition of The Times annual tax list, with leaders in the gambling industry claiming the spots of second and third as a result of their significant contributions. Peter and Fred Done, owners of Betfred came in second and the Coates family the leaders behind bet365 took third place, making Betfred and bet365 two of the top three highest-paying tax contributors in the United Kingdom. This highlights the major role these gambling industry leaders play in contributing to the UK’s treasury.
Chris Hohn, founder of the Children’s Investment Fund Management, topped the list with £339.5 million in taxes, reflecting his influence in philanthropy and finance. BetFred owners Peter and Fred Done ranked second, with their tax contributions rising from £204.6 million in 2024 to £273.4 million, moving them up two spots. Lastly, Denise, John, and Peter Coates secured third place, paying £265 million—though down from £375.9 million in 2024, it remains a substantial contribution.
The gambling sector's position among the top tax contributors underscores its significant economic impact. Many of these contributions come from major iGaming platforms, as well. The benefit of living in the UK is the freedom of choice: players can play on both domestic iGaming websites or try innovative offshore options, like Lucky Block casino. The latter offers players faster payouts, access to hundreds of provably fair games, and support for a range of alternative transaction methods that are quicker, safer, and more transparent than traditional methods. Moreover, these platforms provide added value by offering enhanced odds, higher betting limits, and enticing bonuses.
When we have a look at the revenue of the aforementioned domestic UK companies, Betfred saw a 26% revenue increase in 2023, reaching £908 million. However, they reported a £71.7 million post-tax loss due to £40 million in overseas-related costs. Despite this, the Done family’s increased tax contributions highlight their strong commitment to the UK.
Meanwhile, bet365 continued to perform well in its fiscal year ending in 2024, with a considerable increase in profit, strengthening the company's dominant position in the online gaming and betting industry. However, a shift came in the form of a reduced salary for Denise Coates, who has long been among the highest-paid executives in the UK. Even with this adjustment, the Coates family continued to make their large tax contributions, maintaining their pivotal role in supporting the UK economy.
These figures are presented in light of the most recent UK Budget, which saw no rise in gambling duties for companies involved in the gaming and betting industry. This decision has played a crucial role in the gambling sector by creating stability. Its extensive impact on establishments like Betfred and bet365 has enabled growth for the businesses to continue expanding whilst leading to phenomenal financial contributions toward the government and national and regional projects to fund vital initiatives, thus leaving a meaningful footprint in the community through their generous contributions.
The gambling industry is regulated by respected authorities like the Malta Gaming Authority and the UK Gambling Commission, ensuring fairness and transparency. These frameworks protect players while maintaining industry standards, allowing businesses to grow ethically. Recent discussions focus on balancing player freedom with operator accountability under evolving regulations.
The annual tax list showcases the vital role that private companies, self-employed, and formally taxpayers play in supporting the country’s financial needs and demands. Fred and Peter Done, alongside the Coates family, have once again shown their influence on the national economy through their impressive tax contributions. As the gambling industry evolves, these businesses will likely remain key players in shaping both the market and the UK’s financial landscape. Their dedication to attaining tax obligations underscores the broader economic importance of their enterprises.
